Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please give me answer? Section 4 - Mortgage Calculation Instructions You Have Decided to use a 20 year Amortization for your Mortgage. Use this information

image text in transcribed

please give me answer?

Section 4 - Mortgage Calculation Instructions You Have Decided to use a 20 year Amortization for your Mortgage. Use this information to find the MONTHLY mortgage PAYMENT using the mortgage amount from previous section and a rate of 3.75%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 2 Years and 7 Months. Input all the TVM variables and answers into the fields below. Antonio Mortgage Amount From Previous Question $412088.4 20 Years P/Y cle Present Value of Loan (PV PI Months P2 Months I Number of Periods (N) Monthly Payment (PMT) BALANCE OWING (BAL) Mortgage Rate As % (1/9) Value Al End of Loan (FV) PRINCIPAL PAID (PRN) 3.75 Section Value: 7 INTEREST PAID (INT) Submit Answers

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Investments Analysis And Management

Authors: Charles Jones, Nick Jones

11th Edition

0470477121, 9780470477120

More Books

Students also viewed these Finance questions